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Washington Savings Bank to Acquire The First National Bank

For Immediate Release – February 18, 2021
Washington Savings Bank to Acquire The First National Bank
EFFINGHAM, IL – Washington Savings MHC (“Washington Savings”), Washington Savings Bank (“Washington Savings Bank”) and The First National Bank of Mattoon, Illinois (“First National Bank”) announced today the execution of a definitive agreement under which First National Bank will merge with and into Washington Savings Bank. The terms of the deal were not disclosed.
First National Bank is a wholly-owned subsidiary of MGB Bancshares, Inc. and has two banking facilities in Mattoon, Illinois and one banking facility in Lerna, Illinois. First National Bank had total assets of $105.2 million at December 31, 2020. In addition to traditional banking services, First National Bank also provides aa citi card customer service number and investment services and wealth management services.
“First National Bank has maintained an excellent reputation in the community under the leadership of Preston Smith. We are excited at the opportunity to acquire First National Bank and to increase our community banking presence in the Mattoon area. The transaction will significantly enhance our wealth management capabilities,” said David Doedtman, President of Washington Savings Bank.
Preston Smith, Chief Executive Officer of First National Bank, said, “We are excited to partner with a strong community bank like Washington Savings Bank. We believe that this combination provides an opportunity for us to provide an expanded range of products and services to our customers while maintaining the high quality of customer service that our customers have come to expect.”
As of December 31, 2020, the combined banks would have had total assets of approximately $559.3 million and wealth management assets of nearly $100.0 million.
The transaction has been approved by each bank’s board of directors and is expected to close in the third quarter of 2021, subject to regulatory approvals, the approval of MGB Bancshares, Inc.’s stockholders, and the satisfaction of customary closing conditions.
Schiff Hardin LLP is serving as legal advisor to Washington Savings, and Barack Ferrazzano Kirschbaum & Nagelberg LLP is serving as legal advisor to First National Bank.
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Washington Savings Bank, Keller Drive Branch
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Name: | Washington Savings Bank |
Concentration: | Commercial Lending Specialization |
Established: | 1883-01-01 |
FDIC Insurance: | 1958-02-17 |
Holden By: | Washington Savings Mhc |
Charter Class: | Savings banks, state charter, supervised by the FDIC |
# of Branches: | 5, view all, view on map |
Website: | www.washingtonsavings.net |
Total Assets: | $478,964,000 |
Total Deposits: | $393,716,000 |
Total Equity Capital: | $71,764,000 |
Total Domestic Office Deposits: | $393,716,000 |
Net Income: | $1,911,000 |
Quarterly Net Income: | $994,000 |
Return on Assets: | 1% |
Quarterly Return on Assets: | 1% |
Return on Equity: | 5% |
Quarterly Return on Equity: | 6% |
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Washington Savings Bank Keller Drive
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(Back row, L-R) Dave Doedtman, Randy Jones, Ryan Fearday, Elaine Buehnerkemper, Jim Schroder, Aiden Hardiek
(Front row, L-R) Lisa Bohnhoff, Terri Gilbert, Sandy Bernhard, Kathy Schroeder
Washington Savings Bank raised $750 to support the LeAnn Schroeder Hardiek Friendship Endowment. Bank employees made donations to wear jeans and pink on Fridays in honor of Breast Cancer Awareness Month.
The LeAnn Schroeder Hardiek Friendship Endowment provides cancer patients with gift cards for their young children (age 18 and under). These children are often scared of hospitals and worried about their sick parents. Many times, birthday and holiday gifts, dining out and entertainment becomes a luxury that parents cannot afford due to the expense of cancer treatments. These gift cards are meant to help alleviate the child’s fear and relieve some of the financial burden felt by parents. The gift cards can be used for toys, meals and other forms of entertainment that can provide a distraction for the child whose parent is battling cancer.
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With the WSB Mobile app, you can take a photo of your check and make a deposit anytime, anywhere! The daily washington savings bank effingham il limit is $2,500.00.(Each check is one deposit).
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- When prompted for the amount, carefully enter the check amount to ensure it matches the amount washington savings bank effingham il on your check.
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- Flatten folded or crumpled checks before taking your photos.
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- Take the photos of your check in a well-lit area.
- Place the check on solid dark background before taking the photo of it.
- Keep your phone flat and steady above the check when taking your photos.
- Hold the camera as square to the check as possible to reduce corner to corner skew.
- Make sure that the entire check image is visible and in focus before submitting your deposit.
- No shadows across the check
- All four corners are visible
- Check is not blurry
- The MICR line (numbers on the bottom of your check) is readable
- After the Mobile Deposit has been accepted and “Deposit Pending” shows up in Mobile Banking, the deposit will appear in your account after the nightly update.
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Showing 27 of 27 results. nearest at home storeDescription | Business Name | Business Type | Industry + Sector | Employees | Date Approved | Loan Amount | Lender |
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$350K–$1M loan to EFFINGHAM OBSTETRICS AND GYNECOLOGY ASSOCIATES LLC | EFFINGHAM OBSTETRICS AND GYNECOLOGY ASSOCIATES LLC EFFINGHAM, IL | LLC | Offices of Physicians (except Mental Health Specialists) www chase com southwest my account Health Care and Social Assistance | 30 | April 6, 2020 | $350K–$1M | Washington Savings Bank |
$350K–$1M loan to FAMILY CARE ASSOCIATES OF EFFINGHAM, S.C. | FAMILY CARE ASSOCIATES OF EFFINGHAM, S.C. EFFINGHAM, IL | S-Corp | Offices of Physicians (except Mental Health Specialists) Health Care and Social Assistance | 58 | April 7, 2020 | $350K–$1M | Washington Savings Bank |
$350K–$1M loan to MID-ILLINOIS MEDICAL CARE ASSOCIATES | MID-ILLINOIS MEDICAL CARE ASSOCIATES EFFINGHAM, IL | LLC | Offices of Physicians (except Mental Health Specialists) Health Care and Social Assistance | 135 | April 14, 2020 | $350K–$1M | Washington Savings Bank |
$150K–$350K loan to VILLAGE XIII INC | VILLAGE XIII INC washington savings bank effingham il EFFINGHAM, IL | S-Corp | Full-Service Restaurants Accommodation and Food Services | 61 | April 7, 2020 | $150K–$350K | Washington Savings Bank |
$150K–$350K loan to HEARTLAND HUMAN SERVICES | HEARTLAND HUMAN SERVICES EFFINGHAM, IL | Non-profit | Outpatient Mental Health and Substance Abuse Centers Health Care and Social Assistance | 48 | April i m feeling curious animals, 2020 | $150K–$350K | Washington Savings Bank |
$150K–$350K loan to WORTMAN PROPERTIES, INC. | WORTMAN PROPERTIES, INC. EFFINGHAM, IL | S-Corp | Corporate, Subsidiary, and Regional Managing Offices Management of Companies and Enterprises | 22 | April 8, 2020 | $150K–$350K | Washington Savings Bank |
$150K–$350K loan to JERRY DALEY & SONS PLUMBING & HEATING, INC | JERRY DALEY & SONS PLUMBING & HEATING, INC N. CHELMSFORD, MA | Corporation | Plumbing, Heating, and Air-Conditioning Contractors Construction | 13 | April 15, 2020 | $150K–$350K | Washington Savings Bank |
https www t online de login $150K–$350K loan to L. J. SWINGLER & SONS, INC. | L. J. SWINGLER & SONS, INC. TEUTOPOLIS, IL pay my directv bill online | Corporation | Commercial and Institutional Building Construction Construction | 17 what is an online id bank of america | April 5, 2020 | $150K–$350K | Washington Savings Bank |
$150K–$350K loan to MCDEVITT OSTEEN CHOJNICKI & DETERS LLC | MCDEVITT OSTEEN CHOJNICKI & DETERS LLC EFFINGHAM, IL | LLC | Offices of Lawyers Professional, Scientific, and Technical Services | 18 | April 7, 2020 | $150K–$350K | Washington Savings Bank |
$150K–$350K loan to SACRED HEART PARISH OF EFFINGHAM IL | SACRED HEART PARISH OF EFFINGHAM IL EFFINGHAM, IL | Non-profit | Religious Organizations Other Services (except Public Administration) | 68 | April 16, 2020 | $150K–$350K | Washington Savings Bank |
$150K–$350K loan to ST. JOHN'S LUTHERAN CHURCH | ST. JOHN'S LUTHERAN CHURCH MATTOON, IL | Non-profit | Religious Organizations washington savings bank effingham il Other Services (except Public Administration) | 29 | April 6, 2020 | $150K–$350K | Washington Savings Bank |
$350K–$1M loan to PREMIER PRINTING OF ILLINIOS, INC. | PREMIER PRINTING OF ILLINIOS, INC. CHAMPAIGN, IL | S-Corp | Commercial Printing (except Screen and Books) Manufacturing | 63 | April 6, 2020 | $350K–$1M | Washington Savings Bank |
$150K–$350K loan to EFFINGHAM COUNTRY CLUB | EFFINGHAM COUNTRY CLUB EFFINGHAM, IL | Corporation | Golf Courses and Country Clubs Arts, Entertainment, and Recreation | 59 | April 6, 2020 | $150K–$350K | Washington Savings Bank |
$350K–$1M loan to SENIOR HEALTH SPECIALTIES, INC. | SENIOR HEALTH SPECIALTIES, INC. EFFINGHAM, IL | Corporation | Assisted Living Facilities for the Elderly Health Care and Social Assistance | 185 | April 6, 2020 | $350K–$1M | Washington Savings Bank |
$350K–$1M loan to COMPREHENSIVE HEALTH SERVICES, LLC | COMPREHENSIVE HEALTH SERVICES, LLC CHELMSFORD, MA | LLC | Offices of Physicians, Mental Health Specialists Health Care and Social Assistance | 67 | April 27, 2020 | $350K–$1M | Washington Savings Bank |
$1M–$2M loan to COMMUNITY SUPPORT SYSTEMS | COMMUNITY SUPPORT SYSTEMS TEUTOPOLIS, IL | Corporation | Services for the Elderly and Persons with Disabilities Health Care and Social Assistance | 196 | April 15, 2020 | $1M–$2M | Washington Savings Bank |
$150K–$350K loan to EFFINGHAM VETERINARY CLINIC LTD | EFFINGHAM VETERINARY CLINIC LTD EFFINGHAM, IL | S-Corp | Veterinary Services Professional, Scientific, and Technical Services | 23 | April 9, 2020 | $150K–$350K | Washington Savings Bank |
$150K–$350K loan to DUST INVESTMENTS, INC. washington savings bank effingham il | DUST INVESTMENTS, INC. jp morgan chase bank customer service EFFINGHAM, IL | Corporation | Limited-Service Restaurants Accommodation and Food Services | 64 | April 6, 2020 | $150K–$350K | Washington Savings Bank |
$150K–$350K loan to E & C INVESTMENTS, INC. | E & C INVESTMENTS, INC. EFFINGHAM, IL | Corporation | Limited-Service Restaurants Accommodation and Food Services | 76 | April 5, 2020 | $150K–$350K | Washington Savings Bank |
washington savings bank effingham il $150K–$350K loan to H & D RESTAURANTS, LLC | H & D RESTAURANTS, LLC EFFINGHAM, IL | LLC | Limited-Service Restaurants Accommodation and Food Services | 95 | April 6, 2020 | $150K–$350K | Washington Savings Bank |
$1M–$2M loan to JOINT ACTIVE SYSTEMS,INC. | JOINT ACTIVE SYSTEMS,INC. EFFINGHAM, IL | Corporation | Medical, Dental, and Hospital Equipment and Supplies Merchant Wholesalers Wholesale Trade | 105 | April 6, 2020 | $1M–$2M | Washington Savings Bank |
$150K–$350K loan to DOEHRING, WINDERS & CO LLP | DOEHRING, WINDERS & CO LLP MATTOON, IL | Partnership | Other Accounting Washington savings bank effingham il Professional, Scientific, and Technical Services | 24 | April 28, 2020 | $150K–$350K | Washington Savings Bank |
$350K–$1M loan to G.M. ANDES, LTD. | G.M. ANDES, LTD. EFFINGHAM, IL | Partnership | Pharmacies and Drug Stores Retail Trade | 38 | April 13, 2020 | $350K–$1M | Washington Savings Bank |
$150K–$350K loan to JACK FLASH PROPERTIES, LLC | JACK FLASH PROPERTIES, LLC EFFINGHAM, IL | LLC | Other Gasoline Stations Retail Trade | 47 | April 6, 2020 | washington savings bank effingham il $150K–$350K | Washington Savings Bank |
$150K–$350K loan to FOLEY'S USED CARS & PARTS, INC | FOLEY'S USED CARS & PARTS, INC NORTH BILLERICA, MA | Corporation | Motor Vehicle Parts (Used) Merchant Wholesalers Wholesale Trade | 17 | April 14, 2020 | $150K–$350K | Washington Savings Bank |
$150K–$350K loan to KCJ CONSULTING, INC | KCJ CONSULTING, INC CHARLESTON, IL | Corporation | Commercial Screen Printing Manufacturing | 69 | April 10, 2020 | $150K–$350K | Washington Savings Bank |
$150K–$350K loan to CRITES TITLE CO., INC. | CRITES TITLE CO., INC. MATTOON, IL | Corporation | Title Abstract and Settlement Offices Professional, Scientific, and Technical Services | 17 | April 6, 2020 | $150K–$350K | Washington Savings Bank |
